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    (Original post by harryleavey)
    30bn was the additional national income
    Oh god yeah


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    (Original post by Lemauricien)
    I think the q said by how much would national income increased if £15 billion was injected ,the multiplier was 2 hence national income increases by 30 billion. I think I see why u think it was 15 billion but the initial 15 had nothing to do w the final income it's merely an injection

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    Yeah yeah I got that now, should have at 2 marks for working out


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    Is anyone looking at my concern i really need help
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    (Original post by Mugenya)
    Is anyone looking at my concern i really need help
    Hi

    Thanks for the question.
    I think the reason you don't have a response is because we have already done the exam. I think people have had enough economics for one year.

    I will try and help though, could you write your question again? I couldn't understand it
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    Thanks there was one i was unsure where by they were asking for possible cause of the deterioration in mozambique current acount balance
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    (Original post by Mugenya)
    Thanks there was one i was unsure where by they were asking for possible cause of the deterioration in mozambique current acount balance
    That wasnt on our exam was it? Are you surr you did edexcel economics A?
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    (Original post by Kantth)
    Haha yes definitely. Ive had three exams so far and this was by far the best as the others were rock solid (theme 1 and c1 maths)
    Hey me too! I loved C1 but I did MEI, I'm guessing you did edexcel?
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    (Original post by Diastal)
    Yeah so am I. However the main problem for me is my terrible handwriting. It starts of ugly and then gets even uglier. So I just hope the examiner can read what I wrote... Otherwise I'm screwed 😅
    Yeah this was also a problem for me… I've used a laptop in the past but I get extra time so I just hand write but yes I'm probably gonna stay awake for an hour tonight wondering if the examiner will understood what I wrote 😂 I'm sure they'll try their best and won't just skip it
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    (Original post by zayn008)
    Yeah this was also a problem for me… I've used a laptop in the past but I get extra time so I just hand write but yes I'm probably gonna stay awake for an hour tonight wondering if the examiner will understood what I wrote 😂 I'm sure they'll try their best and won't just skip it
    Wait, you get extra time if you have bad handwriting??
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    1) Define national income
    GDP plus interest and dividends,

    2) Which of these is an injection?
    Investment

    3) Define circular flow of income?
    Model
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    (Original post by zayn008)
    Hey me too! I loved C1 but I did MEI, I'm guessing you did edexcel?
    Na did OCR. According to our head of maths it was the hardest paper since 2004 and i think thats when the spec started 😂
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    For the 15 maker I'm not too sure if what I said makes sense. I said that if there is deflation in the UK then consumers are more likely to spend in the domestic economy, as prices will be cheaper, than abroad as imports will seem more expensive. This will increase consumption and shift AD right, so deflation could sort itself out. But then I said that the MPC should be worried as if they are unable to control interest rates, then they are unable to combat deflation as they can't shift AD right this was, as this is one of their main policies. To conclude I said that they should only be worried if they cannot control interest rates.Also for the 6 marker on 2 reasons on controlling inflation or somthing like that I said that they cannot lower interest rates anymore and so cannot control AD and that the costs of production are reduced so SRAS would shift right and deflation would occurDo any of these point make sense??
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    I did the first 20 mark question and just went through the chart they gave us in figure 2. So talked about how initially the inflation rate was high/MPC decreased it to target zone (explained how they did that) Then wrote about when it was in the target zone and finally deflation. Starting to panic that I completely mis interpreted it., what did others do?


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    Literally think I have messed up this paper, feel so deleted and angry in myself.


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    (Original post by Hot&SpicyChicken)
    1) Define national income
    GDP plus interest and dividends,

    2) Which of these is an injection?
    Investment

    3) Define circular flow of income?
    Model
    The only thing is it didn't say gross national income?


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    Yh it didnt... National Income can be measured using GDP so you could define GDP (the total market value of all the goods and services produced in the UK in a year)
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    i messed it up so badly flopped both unit 1 and unit 2 equally ....
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    (Original post by CosimaNiehaus)
    For the 15 maker I'm not too sure if what I said makes sense. I said that if there is deflation in the UK then consumers are more likely to spend in the domestic economy, as prices will be cheaper, than abroad as imports will seem more expensive. This will increase consumption and shift AD right, so deflation could sort itself out. But then I said that the MPC should be worried as if they are unable to control interest rates, then they are unable to combat deflation as they can't shift AD right this was, as this is one of their main policies. To conclude I said that they should only be worried if they cannot control interest rates.Also for the 6 marker on 2 reasons on controlling inflation or somthing like that I said that they cannot lower interest rates anymore and so cannot control AD and that the costs of production are reduced so SRAS would shift right and deflation would occurDo any of these point make sense??
    Let me ask you a question... If the price of a good was falling will you buy the good or wait for prices to fall further?

    Deflation basically means that consumers delay purchases as they know that they can get it cheaper in the future. Also deflation may mean that house prices are decreasing leading to negative wealth effects so people are less likely to spend and more likely to save
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    Does anyone know if a MS is out for the exam yet or not?
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    (Original post by CosimaNiehaus)
    For the 15 maker I'm not too sure if what I said makes sense. I said that if there is deflation in the UK then consumers are more likely to spend in the domestic economy, as prices will be cheaper, than abroad as imports will seem more expensive. This will increase consumption and shift AD right, so deflation could sort itself out. But then I said that the MPC should be worried as if they are unable to control interest rates, then they are unable to combat deflation as they can't shift AD right this was, as this is one of their main policies. To conclude I said that they should only be worried if they cannot control interest rates.Also for the 6 marker on 2 reasons on controlling inflation or somthing like that I said that they cannot lower interest rates anymore and so cannot control AD and that the costs of production are reduced so SRAS would shift right and deflation would occurDo any of these point make sense??
    On the contrary, when there is deflation, consumers will delay consumption as goods will get cheaper gradually so as utility maximising consumers, they will keep waiting for prices to fall even more. Therefore, consumption should rightfully fall.
 
 
 
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